NioCorp Developments Ltd., formerly Quantum Rare Earth Developments Corp., is an exploration and development company with a focus on identification and acquisition of deposits of niobium and rare earth elements in North America and worldwide. Its premier project is the Elk Creek Carbonatite in Nebraska. The primary focus of Elk Creek Carbonatite property is niobium, with substantial intercepts of both rare earth elements and phosphate also encountered. Its Archie Lake Rare Earth Element Property is a rare earth exploration play. In Australia, the Company acquired two exploratory rare earth projects: the Jungle Well Rare Earth Project and the Laverton Rare Earth Project. On May 04, 2010, it announced that it had acquired the Elk Creek Carbonatite, a carbonatite in North America, through the acquisition of Elk Creek Resources Corp., which owns an option to acquire the mineral rights to the project.